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Shareholder advisory group PIRC recommends 'oppose' vote on pay for WPP's Sorrell
June 2, 2015 / 3:45 PM / 2 years ago

Shareholder advisory group PIRC recommends 'oppose' vote on pay for WPP's Sorrell

LONDON, June 2 (Reuters) - A leading European investor-voting advisory group said on Tuesday it backed a revolt against advertising group WPP at the firm’s impending annual shareholders’ meeting over pay, bonuses, board make-up and choice of auditor.

On the remuneration report, which refers to previous payouts, Pensions and Investment Research Consultants (PIRC) said Chief Executive Martin Sorrell’s total pay for last year of nearly 43 million pounds ($66 million) was excessive.

The figure is 37 times his base salary and the ratio of his pay to that of the average employee was also not appropriate at 179 to one. ($1 = 0.6524 pounds) (Reporting by Carolyn Cohn; Editing by David Holmes)

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